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July 23, 2014

Homework Help: economics

Posted by Anonymous on Monday, October 5, 2009 at 9:52pm.

Wilpen Company, a price-setting firm, produces nearly 80 percent of all tennis balls purchased in the United States. Wilpen estimates the U.S. demand for its tennis balls by using the following linear specification;
Q = a + bP + cM + dPr
Where Q is the number of can of tennis balls sold quarterly, P is the wholesale price Wilpen charges for a can of tennis balls, M is the consumerís average household income

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